aprott/iStock via Getty Images Novo Nordisk ( NVO ) plans to limit the initial sales of its newly approved weight loss drug, Wegovy, in China to avoid disruption to its supplies overseas, where demand is surging, Bloomberg News reported Thursday. Chinese authorities approved Wegovy for weight loss on Tuesday, at a time when the Danish drugmaker is struggling to meet its global demand. However, the company plans to launch the product in China soon in such a way that its initial uptake will not hinder global supplies, Novo’s ( OTCPK:NONOF ) head of international operations, Maziar Mike Doustdar, said.
He added that the company also wants to ensure that patients on the drug can continue filling their prescriptions without any concerns about supplies. “It’s no secret that the demand is enormously larger than the current supply,” Doustdar said during an interview on Thursday. We cannot completely open this up on day one to all centers and all doctors and then have a situation where let’s say, on Monday, we launch the product, and by Wednesday or Thursday, there’s not enough for those who started it back on Monday.
” Following Wegovy’s latest approval, Seeking Alpha analyst Bill Gunderson argued that Novo ( NVO ) could easily exceed the 75% premium he forecasts for the stock given the new earnings prospects in China. More on Novo Nordisk Novo Nordisk Breaks Out To An All-Time High On China Approval Of Wegovy Novo Nordisk: Leading The Fight Against Diabetes And Obesit.
